Avoid
Bankruptcy with Debt Settlement.
Wow. Debt settlement. I've
never seen so many misconceptions about any credit related
program. Credit cards can't be bankrupted out of anymore.
Personally negotiating with the creditors doesn't seem to work. Debt
consolidation usually involves mortgaging property.
Bankruptcy follows you for 10 years on your credit report.
You get on the Internet and look up debt
settlement in a search engine and their are thousands of choices but
no definitive answers. We finally went to a debt settlement
conference in Las Vegas to sort out the facts from the fiction.
We were there for three days and listened to lawyers, ex employees of
credit card companies, back end companies who will do all the back end
work for the sales department. The FTC (Federal Trade
Commission) was a big topic. After all this we still didn't
understand how the deal worked.
So we sent one of our employees to work
undercover in a large debt settlements service companies who was a
self saver (more about that later).
So let's start with the basics. You're
overwhelmed with debt. Variable interest rate mortgages, credit
card debt, student loans, car payments, kids in school. There's
no end to it. Maybe you should go bankrupt? Let's start
there and go through the whole deal from beginning to end.
